Commodities
Energy Prices Plummet Amid Hormuz Tensions Easing
The energy market has experienced a brief respite in the last week of July. According to XTB, crude oil and European natural gas prices have dropped by multiple percentages.
The sharp decline in prices is attributed to a short-term de-escalation of tensions in the region around the Strait of Hormuz, a critical waterway for global energy supplies. However, this reprieve may be temporary as structural supply risks persist in the market.